Entries by Alex - Chart Freak

Nov 10 – Weekend Review

November 11, 2018 in /by

It was a bit of an exhausting week with the constant volatility and choppiness in various sectors of the markets.  let's review this weeks  market activity....

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IWM DAILY  - I drew this on Nov 8 saying that short term, I would expect the markets to pull back due to this light volume rising bear  wedge, however...

 

IWM DAILY  - That doesn't mean a big pull back, it may simply be this tag of the 10sma...

IWM DAILY  - And so far that is what we have.  IWM dropped and bounced off of the 10sma.

 

 

Now let's look at the Bigger picture...

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November 8th – Friday

November 9, 2018 in /by

It is the Last day of the week and the Elections have passed, the somewhat non-event of the FOMC Meeting has passed, so now let's just take a look at what we have going on...

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SPX - We had a slight pause on day 8, so I have just drawn in a possible dip to an inverse H&S at the 10 sma as support.  This is just hypothetical.

 

However here is another reason that I think we may see a drop in the General Markets....

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November 8th – Propping Up The Markets

November 8, 2018 in /by

As mentioned yesterday, Markets do not like uncertainty, but with elections out of the way, we could get a Post Election Pop.  As you can see, we got that Pop.  Today is an FOMC Meeting, and there were a few other areas of interest that continued to set up for higher price too.  Let's take a look...

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SPX - On day 7, we can expect markets to hold up above the swing low from here, but I'm still wondering if they can recover fully,  or will things remain a bit choppy again going forward?

 

This is what I am looking at...

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November 7th – Elections, an FOMC Meeting, and More Chop

November 7, 2018 in /by

 

It has been difficult trading or investing for the Buy & Hold group.  October was a drop into our ICL , and it was a deep one.  Since then, we have seen a lot of choppiness heading into the U.S. Elections.  Markets do hate uncertainty.  Now that that will be behind us, we still have an FOMC Mtg scheduled for Wednesday & Thursday of this week, so unless we get a strong reaction higher when the results of the elections are released, maybe we should just expect a bit more choppiness .   Let's review our market sectors...

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SPX  - After an A-B-C type sell off , this looks like an ICL is in place and we are on day 6.  Resistance is right above, so the elections results could push price through.  Markets do not do well in uncertain times, so the post election results could help the markets.

 

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The MJ Stocks, Round 2?

November 6, 2018 in /by

(below is a sample of Alex’s work from the week.  The marijuana stocks were highly volatile in recent months and after the news of legalization in Canada, they saw a sharp sell off [‘sell the news.’] A reversal appears in order.  There are dozens of companies to cover in the MJ sector, including the MJ […]

November 1st – Setting Up

November 1, 2018 in /by

 

SPX DAILY -  Yesterday I mentioned the day 52 lows,  the 'last engulfing candle' and probability of a low forming here.   We did get follow through higher on Wednesday.

SPX DAILY -  We did get a pop higher.  It sold off into the close, but I still feel that this is a valid break higher for a dcl. It may drift lower along this trend line and fill that gap though.

SPX WEEKLY 1 of 4- We have a weekly reversal.

 

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